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NCUA RIN: 3133-AF55 Publication ID: Fall 2023 
Title: Incorporation of Existing Statement of Policy Regarding Exceptions to Employment Restrictions Under Section 205(d) of the Federal Credit Union Act 
Abstract:

The NCUA Board is considering issuing a proposed rule to incorporate Interpretive Ruling and Policy Statement 19-1 (IRPS 19-1) regarding statutory prohibitions imposed by Section 205(d) of the Federal Credit Union Act into its regulations. Section 205(d) prohibits, except with the prior written consent of the Board, any person who has been convicted of any criminal offense involving dishonesty or breach of trust, or who has entered into a pretrial diversion or similar program in connection with a prosecution for such offense, from participating in the affairs of an insured credit union. The Board is also considering amendments to IRPS 19-1 to reflect recent statutory changes to Section 205(d) of the Federal Credit Union Act and increase consistency with comparable Federal Deposit Insurance Corporation regulations.

 
Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 701    12 CFR 741    12 CFR 746    12 CFR 748    12 CFR 752   
Legal Authority: 12 U.S.C. 1785(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/00/2023 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: https://ncua.gov/regulation-supervision/rulemakings-proposals-comment  
RIN Data Printed in the FR: No 
Agency Contact:
Rachel J. Ackmann
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2601
Fax:703 518-6569
Email: rackmann@ncua.gov